Welcome to our in-depth review of Market Haven, a brokerage that allures traders with its interesting name and the promise of easy and intuitive online trading. We will thoroughly examine their offerings, sift through the claims, and uncover the truth about whether this is a legitimate platform or a potential scam.
Table of Contents
Highlights
| 🏛️ Country | Saint Vincent and The Grenadines |
| ⚠️ Regulation | — |
| 🖥️ Website | https://markethaven.com/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | $250 |
| ⚖️ Minimum and Maximum Leverage | 1:100-1:300 |
| ⚙️ Trading Platform | WebTrader |
| support@markethaven.com | |
| 📞 Phone | +441277282822 |
First Impression of Markethaven.com
Upon first glance, the website impresses with its visually appealing and well-coordinated design. Using a unified color scheme throughout the brand, logo, and site images adds to its attractiveness, setting it apart from the typical dark-themed and graph-heavy broker websites. However, this is where the positives end.
The website lacks comprehensive legal information, with minimal details about the company’s history, leadership, and team members. The scarcity of data leaves visitors with a mixed impression.
Partnership and Bonuses
Market Haven offers a fairly generous referral program where traders can earn a 10% bonus for each referred friend. The potential earnings could go up to an impressive $25,000 per individual referral. Not only that, but the referred trader will also receive a 5% bonus on their own account. The only requirement for the partnership program to kick in is that the referred trader’s deposit should be at least $1,000.
This referral program may seem enticing, but it’s essential for traders to carefully assess the overall legitimacy and reliability of the broker before engaging in any referral activities.
Account Opening on Markethaven.com
To register, you will need to fill out a small form with your first name, last name, and contact details. Additionally, you’ll have to confirm that you have read and agreed to the client agreement and certify that you are not a resident of the United States. Surprisingly, gaining access to this broker’s client portal is as straightforward as it may seem. They don’t even send a verification code to your email for confirmation.
The client portal appears to be quite typical and standard in its design and functionality. While the broker’s originality seems to be lacking, the portal does provide all the essential features one would expect. Traders can access their account information, view trading history, check available funds, and execute trades.
Verification
Market Haven requires all its clients to go through the verification process. To complete the verification, clients are asked to provide certain documents, such as a valid ID or passport, proof of address, and potentially other documents to verify their identity and account information.
- The verification is mandatory.
- The broker does not specify the exact time frame for the document verification process.
Trading Software
One of the notable limitations of the platform is the absence of a demo account feature. This means that traders won’t have the opportunity to practice their strategies or get acquainted with the platform using virtual funds. Additionally, Market Haven does not provide a dedicated desktop version or a mobile application for trading. As a result, traders are solely reliant on accessing the platform through a web browser. While this can offer some level of convenience in terms of accessibility from various devices, it may lack the seamless functionality and user experience that dedicated desktop or mobile apps typically provide.
Such apps often come with advanced features, faster execution, and enhanced charting tools, which can be beneficial for traders who require more sophisticated tools and real-time data analysis.
| Features | Market Haven | TradeCMF | RiveGarde |
|---|---|---|---|
| Demo Account | ❌ | ❌ | ❌ |
| Mobile App | ❌ | ❌ | ✔️ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With Market Haven?
Let’s delve into the trading conditions that the firm offers to its clients. However, we have a feeling that these conditions might not live up to the expectations of a trader’s paradise.
All Info About Accounts
Market Haven entices traders with an array of 6 account types, each bearing unique names like Litecoin, Ethereum, Bitcoin, Pro Bitcoin, VIP Bitcoin, and Rockefeller. However, before we get too carried away, it’s crucial to note that the VIP account is an elusive option accessible only after depositing a staggering $250,000. As if that weren’t enough, this account promises the highest leverage, which implies that the broker does not engage in interbank trading, as high leverage is a clear deterrent.
For those eager to dip their toes into trading, the Litecoin account requires a modest $250 minimum deposit. While this entry-level account grants traders access to flexible leverage of up to 1:100, a daily market review from Market Haven, and spreads from 1.5 pips, it falls short of offering grand features.
Now, here comes the twist, with the Ethereum account, demanding a substantial $10,000 deposit. Surprisingly, features include leverage of up to 1:200, 1-on-1 sessions with analysts, and independent contracts. Sometimes, we are even left bewildered by the creative concepts brokers come up with.
Alright, prepare for the deposit rollercoaster ride! The gaps between the next set of accounts are wider than the Pacific Ocean. As for the extra perks they offer, it’s like they dug deep into a treasure chest of wild ideas, and boy, did they get creative! We wouldn’t be surprised if they promised to teleport you to a tropical island every time you make a trade!
- Low minimum deposit.
- Ridiculous accounts requirements.
- Dubious additional services.
Market Analysis and Education With Market Haven
The broker claims to offer market analysis and education, but these features come with a catch — they are only accessible after making a significant deposit. However, we would advise caution before committing to such deposits. Who are these analysts that will be working with you? Is there any track record or examples of their forecasts? Perhaps they can showcase their credentials to gain more trust. In general, we urge you to approach such claims with skepticism and do thorough research before making any decisions.
Deposit, Withdrawal, and Fees
Market Haven presents a range of intriguing deposit options that caught our attention. Their FAQ section outlines various convenient methods, such as bank cards, bank transfers, and e-payment options. This diverse selection allows clients to choose the most suitable option to fund their trading accounts, catering to different preferences and needs.
Furthermore, the possibility of withdrawing funds using the same methods as for deposits is a beneficial feature. It is worth noting that there is a 1% withdrawal fee, which clients should consider when planning their transactions.
| Features | Market Haven | Axi | AI Global Group |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ❌ | ❌ |
| Electronic Payments | ✔️ | ✔️ | ❌ |
| Crypto Transfers | ✔️ | ❌ | ❌ |
| Deposit Fee | ❌ | ✔️ | ❌ |
| Withdrawal Fee | ✔️ | ✔️ | ❌ |
How Can I Contact It?
Market Haven offers contact options for their clients, including a phone number and an email address. However, the absence of a physical address raises concerns about the broker’s transparency and legitimacy. A physical address is essential for establishing the company’s credibility and providing clients with a way to reach them in case of any issues or disputes. Without a valid address, clients may find it challenging to verify the office location.
- Phone number and email address are provided.
- There is no office address.
Is Market Haven Dangerous?
The trading conditions offered by the broker seem highly suspicious, and it is doubtful that any collaboration with this company would end favorably. However, let’s delve deeper into the details to gain a more comprehensive understanding.
How Long Does The Broker Work?
Hero of our review positions itself as an experienced broker, but the reality falls far short of their claims. As for their domain, it was actually created back in 2008. However, for all that time, it didn’t belong to Market Haven. The broker only acquired it in 2023, as evident from the data in the web archive. This discrepancy raises serious doubts about their credibility and raises questions about their true intentions.
How Is Market Haven Regulated?
The broker presents itself as Market Haven Ltd., but its registered jurisdiction remains uncertain, raising a significant question mark. In section 19.9 of their agreement, they claim that all disputes between traders and the company will be resolved in the jurisdiction of St. Vincent and the Grenadines. However, we discovered that this organization. is not listed in the registry of this offshore state.
Furthermore, the broker provides a phone number with a British code for contact, adding to the puzzle. We also cross-checked the English registry and found a company named Market Haven, but it was dissolved back in 2021.
Interestingly, the activities of this firm were never associated with investments or brokerage services. So, in fact, the hero of our review seems to operate without any oversight or regulation whatsoever.
| Features | Market Haven | Sollari | Equithy Global |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ❌ |
Frequently Asked Questions (FAQ)
Kevin Berry Alright, let me tell you something interesting about this so-called “Market Haven.” They claim to issue debit cards, bragging like it’s some kind of a fancy perk. But guess what? I dug into the details, and there’s no sign of any banking license or functionality for these cards. It’s like they’re trying to sell you a luxury car with no engine under the hood! I mean, come on, who are they kidding? As an expert in the trading world, I can tell you this is just another sketchy move from a broker you should steer clear of.
Market Haven rating
3 reviews about Market Haven
I was promised a personal manager for a $10,000 deposit, but trying to reach them was a mission impossible. For a whole week after my initial deposit, their customer support was unreachable. On top of that, the fees turned out to be sky-high, despite being assured they were minimal and barely noticeable. It’s all just a big lie! I’m not willing to share my hard-earned money with Markethaven anymore!
I chose this intermediary because their conditions seemed perfect for beginners. But in reality, they don’t teach you anything and just scam you with their dubious advice. Making profits with this broker is simply impossible!!!
I tried trading with them myself, and they turned out to be mediocre at best. Their platform constantly crashes, showing outdated quotes, and my $2,000 account dwindled to less than $1,500. Don’t expect any profits if you get involved with these irresponsible amateurs. Stay away!